France's Premier Lecornu Tenders Resignation Following Under a 30-Day Period in the Role
The nation's PM Lecornu has resigned, under 24 hours after his government team was unveiled.
The French presidency made the announcement after Lecornu met the French President for an meeting on the start of the week.
This surprising decision comes only under four weeks after he was named premier following the downfall of the previous government of his predecessor.
Parties across the board in the National Assembly had strongly opposed the structure of Lecornu's cabinet, which was mostly similar to the previous one, and vowed to reject it.
Pressure for Early Elections and Political Instability
A number of factions are now calling for new parliamentary polls, with others urging Macron to also leave office - despite the fact that he has always said he will not resign before his term ends in five years from now.
"Macron needs to decide: calling new elections or stepping down," said Sébastien Chenu, one of key representatives of the National Rally.
Lecornu - the ex-defense chief and a supporter of Macron - was the fifth premier in under two years.
Context of Government Turmoil
The nation's governance has been highly unstable since last summer, when early legislative polls resulted in a deadlocked assembly.
This has made it difficult for any prime minister to secure enough backing to enact new laws.
Bayrou's government was rejected in last month after parliament voted against his spending cuts plan, which aimed to cut state costs by €44bn.
Economic Pressures and Market Reaction
The nation's budget gap hit 5.8 percent of economic output in 2024 and its national debt is more than the total economic output.
That is the third highest public debt in the euro area after Italy and Greece, and equivalent to almost €50,000 per French citizen.
Markets declined in the French stock market after the news of Lecornu's resignation was released on Monday morning.
